The Future of Pharmacy Pricing | Kyle McCormick, PharmD, Blueberry Pharmacy

Description: In this episode of the podcast, host Mike Koelzer talks to Kyle McCormick, a pharmacist and owner of Blueberry Pharmacy, about the future of pharmacy pricing. They discuss the evolution of the cost-plus pricing model in the pharmacy industry and how it has simplified pricing for patients. They also discuss the challenges faced by independent pharmacies in competing with larger companies, such as Mark Cuban's pharmacy, and the importance of communication and customer service in attracting and retaining customers.

Episode Highlights:

• The cost-plus pricing model in the pharmacy industry is becoming increasingly popular as it offers transparency and simplification of pricing for patients. Pharmacists can set the cost that covers their service, and the level of service can vary.
• Independent pharmacies, such as Blueberry Pharmacy, can differentiate themselves from larger companies, such as Mark Cuban's pharmacy, by providing a higher level of service, such as counseling patients and checking for drug interactions.
• Kyle McCormick believes that the future of pharmacy pricing involves a change in the reimbursement model, where pharmacists are paid for their service rather than negotiating drug prices.
• Kyle emphasizes the importance of incentivizing healthcare providers to prioritize patient care over financial gain.
• The conversation also touches on the challenges faced by independent pharmacies in competing with larger companies, such as the threat posed by Mark Cuban's pharmacy.
• Finally, the episode concludes with a discussion on the role of marketing and branding in attracting and retaining customers, with Kyle McCormick sharing his marketing strategy for Blueberry Pharmacy.

https://blueberrypharmacy.com/

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